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Tuesday, January 25, 2011


We're an hour into trading this morning and MLPS are off half a point on the index after yesterday's nice 4 point plus gain. Alliance Resource Partners (ARLP) was up 3 bucks yesterday and its down 1 and change today as the biggest loser. EV Partners (EVEP) is down 50 cents as runnerup loser today. On the winning side Martin Midstream (MMLP) is gaining 84 cents. Some other winners on the list but the moves are nothing worth noting.

In corporate news items, Atlas Holdings (AHD) declares a 7 cent payout while Atlas Pipeline Partners (APL) announces a 37 cent distribution. Both stocks are down fractionally. Martin Midstream (MMLP) also announces its payout while Plains All American (PAA) is expanding capacity and provides details. Not much response on the stock price for Plains.

It figures that natgas has done nothing but go down since i posted about the pre market 2% rise yesterday. Support on the UNG, which has gone from 6.50 to 6.10 in a hurry is around 6.04 or so. And again as i have said many times UNG may not be the way to play this since if your timing is off, you could still lose money because its structure causes it to buy higher priced futures contracts to replace current ones making it a wasting asset. UNL may be the better way since it has its futures spread out over 12 months. So far trips to support have provided good trading opportunities.

I promised yesterday the video from CNBC's mlp profile on Strategy Session. And here it is. Worth a look and explains the relationship between mlps and long rates well.

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